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Sino-US trade friction escalates 48 hours of intensive confrontation
At 30 am on March 23, Beijing time, a huge customs “penalty†from the Western Hemisphere broke the tranquility of the Eastern Hemisphere. US President Trump signed a memorandum of the President. According to the results of the 301 investigation, a large-scale tariff will be imposed on Chinese goods, involving a product size of 60 billion US dollars. At the same time, it will restrict Chinese companies from investing in the United States. After only seven hours, China took countermeasures. The Ministry of Commerce of the People's Republic of China announced that it intends to impose tariffs on certain products imported from the United States, involving US exports of about US$3 billion to China. The confrontation between one of the world's largest developed countries and the world's largest developing country is staged. Zhang Jianping, deputy director of the Academic Committee of the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce, said in an interview with the reporter of "Daily Economic News" that the current trade friction between China and the United States is already at a stage where it is extremely vulnerable. If the US side targets China's taxation policy, then China's trade counter-measures will most likely take effect. Trump has provoked trade frictions Since 2018, although the trade frictions between the United States and many countries and regions including China have been heating up, China is one of the main victims. As Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce, said in an interview with the Daily Economic News, the Trump administration is willing to do anything to threaten the US economy for the purpose of achieving "US priority." Take trade sanctions. "If it is a regular action against other countries, then it is a self-selection action against China. Because the United States not only wants to fight for benefits, but also wants to limit China's development." Tu Xinquan, president of the China WTO Research Institute of the University of International Business and Economics, said, "For 301 Investigate, I don't think there is any communication problem between the two sides, and there is no misunderstanding. This is Trump's strategy." Just as the 301 investigation was pending, in early March 2018, the US government announced that it would impose 25% on imported steel and aluminum respectively. And 10% punitive tariffs. This seems to be for all countries, but unexpectedly, Trump subsequently announced a temporary exemption for steel and aluminum tariffs on the EU, Argentina, Australia, Brazil, Canada, Mexico, South Korea and other economies until May 1. Ren Zeping of the Evergrande Institute said that Trump’s provoked Sino-US trade friction was aimed at forcing China to further open its market to the United States with a serious imbalance in Sino-US trade. The deeper purpose is to try to reproduce the US-Japan trade war in the 1980s to curb China's renaissance, while canvassing the votes before the mid-term elections in November. China responded intensively within 48 hours on March 21, Chinese Foreign Ministry spokesman Hua Chunying publicly stated: "China does not want to fight trade with anyone, but if someone has to force us to fight, then we will not be afraid, two will not Will hide.†The solemn statement of the Chinese Ministry of Foreign Affairs was fully proved within 48 hours after Trump signed the memorandum. First, at 7:00 am on March 23, the official website of the Ministry of Commerce of China announced that it intends to suspend the implementation of substantial concessions and other obligations to the United States, that is, impose tariffs on some products imported from the United States. The product list tentatively includes 7 categories and 128 tax items. According to 2017 statistics, it involves the export of US$3 billion to the US. On the same day, the spokesperson of the Ministry of Commerce made a speech on the US 301 investigation decision, clearly stating that the US side ignored the fact that China strengthened intellectual property protection, ignored WTO rules, ignored the voices of the vast industry, and bent on its own way. This is typical of unilateralism and Trade protectionism. China is fully prepared to resolutely defend its legitimate interests. According to a CCTV correspondent in the United States, Chinese Ambassador to the United States Cui Tiankai said on March 23: "We don't want a trade war, but we are not afraid of it. If people want to be tough, we can also see who will last longer." According to Xinhua News Agency, on March 24, Liu Heying, member of the Political Bureau of the Central Committee, vice premier of the State Council, director of the China Finance Office, and Chinese leader of the China-US Comprehensive Economic Dialogue, spoke to US Treasury Secretary Mnuchin. Liu He stressed during the call that the US has recently released the 301 investigation report, which violates the rules of international trade and is not conducive to the interests of the Chinese side. It is not conducive to the interests of the US and is not conducive to global interests. China is ready to defend its national interests and hopes that both sides will maintain rationality and work together to safeguard the overall stability of Sino-US economic and trade relations. On the same day, the Department of Commerce and Law of the Ministry of Commerce issued a statement on the US measures to invoke the technology licensing conditions to the WTO dispute settlement mechanism. The Chinese side expressed regret that the US has submitted a request for consultation and will properly handle it according to the WTO dispute settlement procedures. On March 25, Minister of Commerce Zhong Shanying met with the chairman of the American Paulson Foundation and former US Treasury Secretary Paulson. Zhong Shan said that China's opening up is self-opening and will not be passively opened under the pressure of "big sticks" in other countries. Cooperation is the only correct choice for the two countries. Paulson also said that the US business community is an important force supporting the development of US-China relations and does not want a trade war between the United States and China. Bai Ming told the "Daily Economic News" reporter that in the past trade survey against the United States, China will also respond, but in such a short period of time, the intensive response is the first time. The United States intends to "Made in China 2025" Ren Zeping said, "From the perspective of the field, the US tax increase to China is not a medium- and low-end manufacturing that China has a comparative advantage, but a high-tech industry that is planned to be developed in "Made in China 2025". Including aviation, new energy vehicles, new materials, etc. This is not only a trade war, but a chasing of China's renaissance. However, on March 23, a person close to the Ministry of Commerce directed the "Daily Economic News" The reporter revealed that it has been nearly a month since the US president signed a memorandum, announced the tax collection list, and finally landed the taxation measures. It is still not possible to say that the trade war has started, and there is still room for mediation between China and the United States. On March 24th, Lou Jiwei, chairman of the National Social Security Fund Council, said in an interview with the reporter of "Daily Economic News": "All trade wars are, in the end, 'killing one thousand, killing eight hundred'. There is no good, the key is to solve the (trade) problem.†Throughout history, the last large-scale global trade friction dates back to the 1980s. At that time, the United States successfully suppressed Japan through trade wars and other means. Statistics show that at the time, the US trade representatives launched a total of 24 cases of 301 cases in Japan, almost all of which forced the Japanese government to make concessions and compromises, voluntarily restrict exports, open markets and increase foreign direct investment. Zhao Ping, director of the International Trade Research Department of the China Council for the Promotion of International Trade, said in an interview with the Daily Economic News that the real purpose of the US launch of this round of trade friction is neither a trade deficit nor a strength in a certain field, but a comprehensive To balance China's development, the area of ​​taxation is related to "Made in China 2025". This is the bottom line that touches China. The Chinese side will certainly not compromise. In fact, according to foreign media reports, on March 22, US Trade Representative Wright Heze said in the US Senate that China should use technology and invest hundreds of billions of yuan to realize the independent development and application of the "Made in China 2025" plan. The main industry will basically reach the international leading position by 2025, which will be unfavorable to the United States.